Governor Moonbeam predicts a $1.68 billion deficit, reports the LA Times. It was only four years ago that Jerry Brown declared California’s budget was balanced for the foreseeable future.
When Leftists Get Their Hands on Your Money
“The trajectory of revenue growth is declining,” Brown told reporters at the state Capitol on Tuesday as he unveiled the state’s budget.
It’s not the fact that he’s spending wildly, destroying business with regulations, and loading up the state with costly government bureaucrats. That can’t be the problem.
In fact, he’s going to push for more climate change regulations.
He will do some cutting to spending, like cutting college scholarships to middle class families. The free college grants to illegal aliens will continue. School funding for the K-12 levels will also be cut.
The $16.1-billion subsidy provided by the Affordable Care Act for Medi-Cal, the program offering healthcare to the state’s neediest, will be in jeopardy if Obamacare is repealed.
Fiscal News About Two Leftist Cities
Where the left rules, the economy suffers.
The Fiscal Times reported that Chicago and New York rank at the bottom of a new analysis of fiscal strength. The analysis is based primarily on data from 2015 financial reports issued by the cities themselves.
Chicago is at the bottom because it is the “poster child for financial mismanagement. The city has thin reserves and large volumes of outstanding debt Also, Chicago is notorious for its underfunded pension plans.
In addition, New York City carries a very heavy debt burden, Fiscal Times reports. According to a report issued by City Comptroller Scott Stringer, New York’s per capita debt greatly exceeds that of all other large U.S. cities. It is even 50 percent higher than that of Chicago.
New York City is a sanctuary city that welcomes all those not welcomed elsewhere – that’s expensive to do!
Well over 75% of the votes cast for President went Hillary Clinton in these two cities.